Since the advent of the Internet, the dynamics of business have changed. Today's companies put forth as much effort to create websites that facilitate business as they do to run the company itself. If your business isn't online, you are at a disadvantage.

Having a website enables you to reach a wider audience and far more potential customers. You may be familiar with the "rules" for a business website:

-Be professional
-Be accessible
-Look good
-Include sharp, error-free copy
-Don't clutter
-Don't spam
-Offer reasons for repeat visits
-Publish a newsletter or blog

However, there is another unspoken caveat that's becoming more essential than ever: If you sell online, you must accept credit cards.

Many of today's Internet consumers are used to the ease and convenience of paying with credit cards online. For these 'net-savvy buyers, the inability to pay with a credit card is a deal-breaker. They don't want to bother writing out a check or a money order and mailing it to destinations unknown, then waiting six to eight weeks for their purchase. Instant is in, and the more purchase options you can offer, the more buyers you will get.

When e-commerce first took off, there were several security concerns among consumers and businesses alike. Scams and cyber-crime made buyers wary of entrusting their credit cards and bank account numbers to websites. Now, more people are buying online than ever before, and improved security and encryption processes are keeping financial information safe.

If your website does not accept credit cards, you could be missing out on a huge amount of business. What are you waiting for?

The benefits of accepting credit cards and other forms of electronic payment online are numerous, while the disadvantages are few. Even small, local businesses can benefit by accepting credit cards online. What makes virtual plastic such a powerful method of doing business?

Everybody's Doing It

Credit cards are an almost universally accepted form of payment. No matter where you are in the world, you can get by with a credit card. This is one of the reasons they're so popular online: they're everywhere (just ask Visa). Even those who don't qualify for a credit card can get a checking account debit card that works the same way.

Like any other phenomenon, the more people jump on the credit card bandwagon, the more interest it generates for everyone else.

Buyers have them

The majority of people who make online purchases have credit cards, and they aren't afraid to use them. According to AC Nielsen, as of October 2005, a whopping 59 percent of online purchases were made with credit cards, while an additional 23 percent were made through bank transfers. In total, 82 percent of online buyers used an electronic payment system to make their purchases.

Merchants accept them

Most online merchants now accept credit cards, through one of various methods available to them. In fact, it is becoming increasingly rare to find a website that sells products or services and does not offer a credit card option.

What does this mean to you? If you don't accept credit cards, many buyers will be reluctant to make a purchase from you. They'll look for another merchant with similar products or services who does accept credit cardsyour competition. You will lose business.

From Canada to China

Another benefit to accepting credit cards is automatic currency conversion. If your website offers products or services that can be purchased around the world, you don't have to worry about how many rupees or Yen are in a dollar. A good credit card system will automatically convert the amount. This is an advantage for your customers as well, as they won't have to try and figure out how much it will cost them.